How are the CID additional rates calculated?
The CID confirms the properties within the boundaries of the CID, which is linked to the municipal valuations according to the most recent general valuation roll.
The CID annually prepares an overall budget for the year. This is based on the specific needs of the area as set out in the approved Business Plan. Individual contributions are then calculated by dividing the budget total according to the municipal valuations of each property, proportional to the total valuation of the CID.
The CID Policy allows for a differentiation in tariffs for the different types of properties – be it residential, commercial or industrial.
This tariff is then expressed as a rate in the rand and is applicable over a financial year, which starts on 1 July.
The CID budget and proposed tariff have to be approved by Council, and advertised for comments and objections as part of the City’s budget process prior to implementation on 1 July.